This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
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S. 80G : Donation-Rejection of application-object of a general public utility-Section 2(15) allows trust to carry on trade, commerce, or business in the course of achieving the object of a general public utility provided the receipts do not exceed 20 percent of total receipts in the previous year-PCIT is directed to adjudicate matter as per the provisions of the Act .[S. 2(15), 11, 80G(5)]

Alnoor Charitable Educational Trust v. CIT (E) [2023] 202 ITD 375 (Amritsar) (Trib.)

S. 80AC: Return to be furnished-Audit report-Assessement-Search-A return of income filed in response to notice u/s. 153A of the Income-tax Act, 1961 is to be considered a return filed u/s. 139 of the Act and for all other provisions of the Act, the return u/s. 153A of the Act will be treated as the original return u/s. 139 of the Act-Deduction not to be allowed unless return furnished.[S.139 (1), 153A,Form,10CCB]

ABCI Infrastructure P. Ltd. v. Asst. CIT (2023) 154 taxmann.com 397 /104 ITR 95 (Guwahati) (Trib)

S. 80 : Return for losses-Non-resident Indian-Tax audit-Audit as per Reserve Bank of India permission-Due date for filing of return was 30-9-2016-Return was filed on 17-10 2016-Loss not allowed to be carry forward. [S.44AB, 72,139(1),Explanation 2(a)(ii), 139(3)]

Gulu Hassanand Raney v. ADIT (IT)(2023) 201 ITD 63/ 225 TTJ 725 (Mum)(Trib)

S. 69C : Unexplained expenditure-Bogus purchases-Accommodation entries-information by investigation wing-assessee failed to prove whole purchases as genuine-5 % profit element to be added in purchases. [S. 147,148]

Sawailal Surtaram Bhatti v .ITO (2023)103 ITR 262 (Mum) (Trib)

S. 69C : Unexplained expenditure-Excess stock-Survey-Addition is restricted only to profit element of stock.[S.133A]

Sukumar Solvent (P.) Ltd. v. ACIT (2023) 200 ITD 614 (Kol (Trib.)

S. 69A : Unexplained money-Difference between sale consideration shown in registered deed and that deposited in bank account-Appeal arising out of lack of verification-Matter remitted to Assessing Officer for adjudication de novo.

Hari Chand v. ITO (2023) 155 taxmann.com 492/ 105 ITR 610 (Amritsar)(Trib)

S. 69A : Unexplained money-Ownership of cash found in premises-Protective and substantive assessment pending for determination-Matter remitted to Assessing Officer.[S. 132]

Hira Lal Kadlabju v. Asst. CIT (2023)104 ITR 608/ 202 ITD 133 (Amritsar)(Trib) Anish Bhan v. ITO (2023)104 ITR 608 (Amritsar)(Trib)

S. 69A : Unexplained money-Demonetisation-Cash deposits of specified bank notes during demonetisation period-AO accepting explanation of assessee that receipts from business-however, treating the deposits as unexplained solely on the ground that notes ceased to be legal tender-Unjustified.[S. 132]

Eagle Fleet Services vs. Asst. CIT (2023) 105 ITR 78(SN) (Chennai) (Trib)

S. 69A : Unexplained money-Compensation on land acquisition-Received on husband’s bank account-Withdrawn from and deposited in assessee’s bank account-No material to prove that money utilised for other purpose-Addition is deleted.[S. 68]

Santosh v.ITO (2023)101 ITR 32 (SN.)(Delhi) (Trib)

S. 69 : Unexplained investments-Search-Source of the Jewellery found during the Search/Seizure Operation-Benefit of instruction No.1916 dated 11.05.1994 issued by CBDT.[S. 132]

Tara Kabra v. DCIT, CC-1(3) (Mum)(Trib)